Blockonomics - Decentralized platform for uplifting the BTC payments

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Overview:
It is a decentralized bitcoin payment solution provider, which is aiming to enhance the usage of bitcoin in the different markets. It issues utility tokens called BCK which can be used in the internal ecosystem of this platform to avail the
service offered by this platform
Problems in bitcoin accepted merchants:
Constant revolution in the technology helped the ecommerce industry to grow rapidly, but it always has issues related to fraudulent payments. Ecommerce owner always looks for more payment options for their customers to increase his sales revenue, as per oracletimes.com study, only three out of five hundred top ecommerce companies are willing to accept cryptocurrencies payments (Bitcoin payments), rest of them are not willing to accept because of different reasons such as price volatility, high cost of bitcoin transactions, most of the users treats bitcoin as asset so they won’t use it for purchase. If we look at price volatility case, for example merchant accepts payment in bitcoin for the products worth of $500, due to volatile nature of bitcoin its price may fall to $300, so it results in loss of $200 for the users, it’s a big loss for them, same way high transaction costs also end up with loss of the revenue for the merchants.
Even though some issues in accepting bitcoin for the payments, still it has many advantages over tradition payment methods such as debit card, credit card and PayPal.
Advantages of bitcoin payments:
All these traditional payment methods need at least one account for verification, users have no control of their data, it’s not good for who wants privacy in their payments.
Bitcoin payments has advantage of freedom in payments. Users are not required to submit their bank details, they have full control of their data and transaction.
It has very low transaction fee for payments compared to PayPal and debit cards because it removes third parties from the transactions.
Its decentralized feature ensures security of the payments, it has no charge backs and high speed in the transactions. Its global access feature gives users to access their payments from anywhere in the world
Token details:
Token symbol: BCK
Total supply: 1,000,000,000
1 BCK=$0.02
Hard cap: $10,000,000
Softcap: $2,000,000
Pre-sale: 1st July to 31st July 2018
Crowd sale: 1st August to 15th August 2018
Team:
Shiva S - Founder, CEO
Expertise in designing and implementing efficient distributed backend systems. Experience in bitcoin/ blockchain projects. Python/c/c++ developer with strong understanding of linux / system internals and mathematics.
Srinivas S - Engineering Consultant
He worked as a senior software engineer in Radiant Sage Ventures for 9 years and now working as an engineer consultant in Blockonomics since 2015.
Chetan B – VP, Sales and Marketing
He has done Electrical and Electronics engineering from IIT Jodhpur and has been handling sales and marketing department in Blockonomics from 9 months.
Verdict
Pros:
• Project idea looks simple and great, as it is aiming to enhance the usage of BTC in payments, it has lot scope in the future and it seems viable
• Social media hype is very good, its telegram community has 10k+ members
• The advisory team looks good, its team members have prior experience in blockchain and cryptocurrency
• Core team has prior experience of IT, Graphic design, marketing
Cons:
• Team members are beginners in the cryptocurrency industry
• Whitepaper has no clear explanation of its working
• MVP is not available
• No partnership is mentioned in the website
Links:


Author by: familyforever

https://bitcointalk.org/index.php?action=profile;u=2054861

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